There’s Nothing New Under The Sun

Everything I’ve ever done or thought has been explored and contemplated by someone else who came before me. What makes me unique is the meandering path I choose.

Just like snowflakes, not one of us is exactly alike but yet we are all so similar. I find people simply fascinating. In particular, I marvel when reading about the ways people have achieved Financial Independence (FI) and/or are working towards it.

There aren’t too many novel ideas. We all have access to the same levers:

Eliminate debt

Embrace frugal living

Discover what you value in life

Practice minimalism

Drive down your monthly expenses

Develop a high savings rate

Invest in low-cost index funds

Study and choose to allocate a small percentage of your investments to single stocks

Diversify with real estate and business investments

Start a side hustle

Embark in Geo Arbitrage

What makes each of our journeys unique is how/when we pull said levers and what happens to us in the process. Personally what I find the most enjoyable to read is the transformation that occurs in our lives. Many of us discover more joy, focus on strengthening our relationships, find more time for loved ones, and develop a sense of extreme gratitude.

I would like to take some time to talk about five characteristics that can be developed in a person through intentional financial living.

Patience

I painted this one 🙂

This is a hard one to develop. I don’t like sitting in rush hour traffic or waiting in long lines any more than the next person. Which, BTW, I try to avoid by my lifestyle choices. However, I know patience to be a virtue and the way to get it is through being in such situations.

It took me 3 & ½ years to pay off my debt and in the process, I lost a house to foreclosure. I paid off a total of $46,763 and at the start of the journey I was making $40K annually and by the time I paid it off, my salary was $60k annually. I just kept my nose to the grindstone and persevered. I wasn’t willing to think of the albatross around my neck (my debt) as a fixture in my life. I attacked it, I worked hard, I made sacrifices, I stayed the course, I paid it off, and became free.

And what do I have to show for it? Well, I now own my entire paycheck but also, much to my surprise, I’ve developed some patience. I was once told never to pray for patience because you’ll be given all kinds of opportunities to work on it.

I didn’t go into this thinking I wanted to become a patient person. Actually, quite the opposite, I thought I’d like to get this done as quickly as possible. I guess it’s relative if 3 & ½ years is long or short but I’ll tell you this, there were plenty of opportunities to give up and pay the minimum for the duration of the loan. Alas, I chose to be patient and you can too.

Self-Control

You Know He Wanted to Go In After That Fish

Aah, another hard one to achieve. I practice fasting occasionally and always think that helps develop my self-control muscles. Also, not buying everything that catches my fancy does the same.

This year, I moved into a little apartment and could have spent a lot of money furnishing it but I chose to utilize what I already had and was very selective about what I purchased.

I’d also argue that market investing requires self-control. To not panic and sell when the media is reporting a downturn in the market, requires discipline. With market investing it is best to just stay the course. Are you sensing a theme here?

Joy

You know how I said I sacrificed a lot during my debt pay off phase? Initially, it felt like I was making sacrifices when I:

Moved in with my parents

Consistently packed my lunch every day

Limited the number of times I went out to eat

Stopped highlighting my hair

Stopped skiing (okay this one was a sacrifice)

My Favorite Crazies Who Bring Me Joy

However, as I continued down this road, I realized I wasn’t less happy. In fact, I even found more joy in the journey. Why? I think that reason is twofold.

Firstly, I loved working towards a goal and seeing the finish line get closer and closer. There was great satisfaction in staying the course.

Secondly, I learned to focus on the relationships I wanted to foster. I had to be creative in how to do this without spending a lot of money. Cooking dinner with friends, playing board games or taking hikes is just as much fun as spending a night on the town which costs a lot more.

Turns out that living with my folks was not a sacrifice at all. It actually was a gift. For one I realized the last time I had lived with them, I was pretty rebellious. Getting a second chance in my 40’s allowed me the opportunity to submit respectfully. It was kinda like a do-over.

Additionally, I utilized the library and started listening to podcasts which, BTW is totally free. Actually, that is how I discovered FI. A colleague turned me onto the ChooseFI radio podcast. We can all figure out the influence that one had on my life 😉

Peace

Cuyahoga Valley National Park is Peaceful

Oh yes, this is something I believe we all want in our lives. It’s an attractive concept. Heck, Dave Ramsey named his course after it, Financial Peace University.

Financial peace is something that eluded me for many years. I believe when we are lacking peace in one area, it spills out into other areas.

Inversely, when we gain peace in one area of our life, it starts to spread out into other aspects.

So what kind of peace came first in my life? Well, I got sober 8 & ½ years ago and undoubtedly that needed to happen before anything else could happen. Simultaneously I returned to faith. Through these choices, I found a new peace.

Eventually, I became ready to work on my fiances because once I had tasted peace, I wanted it in all areas of my life!

Faithfulness

At first blush, this one may not seem so obvious but let me define it according to Merriam-Webster:

So when you make a financial plan and stick to it, you are being faithful. When you put up an investment policy statement because you want accountability in staying true to your plan, you are being faithful. When you pay off your debt because you made a promise, you are being faithful.

Closing

So there you have it, 5 characteristics that can be developed by taking control of your finances. And when you develop these characteristics financially, they’ll spill out into other facets of your life. Trust me, it’s inevitable.

What characteristics have you developed in your personal finance journey?

Comments

Wonderful attributes to seek and I had no idea you were such a talented painter/artist Deanna! So cool. I loved the one you listed under Patience. There is so much emotion in that painting. I feel like you can look at it 100 times and find 100 different meanings. Powerful!

Can I just say… Thank you for sharing your paintings. I love them. I absolutely think you could side hustle these, and if you ever find the desire to do a huge cityscape, please let me know because I would love to buy it from you.

I love reading your story and seeing what you’ve learned along the way! You have gone through so much and come so far, and it brings me such joy to read your posts.

You are one of those people I want to hug every time you share something here, and I’m not even a hugger!

Thank you for the encouragement on the paintings. I actually started an Etsy store called Ms Fiology paintings or something like that, but I need to build up some inventory before I move forward. You guys are inspiring me!

Oh I don’t know I can certainly see some fine attributes in you by your writing. For one, I see a lady who is honest & kind 🙂

You are the bomb.com with that compliment! Did I just date myself? Do people still say that?? Lol. Anywho, you don’t know how much that means to me. Seriously, I was just wondering the other day if my site was professional enough. It certainly looks clean which I like. THANK YOU!

I’ve actually learned to be a little kinder to myself, to let myself indulge in a few select things sometimes (like getting my gray hair covered). To not deny myself everything just because it’ll save a few extra bucks when I’m doing okay saving for the future. So I guess I’m slowly learning to enjoy the journey rather than just looking at the end destination of having $X saved and then life will be perfect. Because that’s not really how it works anyway.

Hey Abigail! I hear you on letting some indulgences in your life. I too am learning to balance frugality with luxury and furthermore, learning to enjoy the journey. You are exactly correct that life will never be perfect so we might as well find joy in the journey. Thanks for the comment. 🙂

About Me

My name is Deanna and I am happy to be on this redemptive path. I got sober from drug addiction/alcoholism in 2010 and returned to a faith in Christ. Additionally, I finished digging my way out of debt in 2017. Today, I’m learning to be a wise steward/investor of my resources while helping other women find their victories too. More about me.